Established September 2006

A Closer Look at Irvine's University Park Housing Market

Today we will take a look at Irvine’s University neighborhood. First, a quick observation: Like many of Irvine’s neighborhoods, University Park’s price per square foot selling price shows no consistent pattern of increase or decrease when compare to the same month last year.

Now, the numbers: University Park—September 2012:

Area

List Price/# of Homes Listed

Sold Price/ #Homes Sold

Median List/SF

Median Sold/SF

% Chg Y-O-Y Sold Price/SF

Houses

$675K/9

$620K/9

$324

$313

-8.70%

Condos

$575K/2

$515K/1

$336

$355

9.6%

All University Park

$660K/11

$594K/10

$324

$323

-5%

All Irvine

$750K/381

$530K/210

$365

$323

1.90%

The following graphs show the change in the number of University Park homes on the market (inventory), the price per square foot of University Park houses, and the price per square foot of University Park condos, respectively.

To give more meaning to these numbers and graphs, I am listing some homes that are near the bottom, top, and middle of the price range for homes in the University Park real estate market.

Note: A quick scan of the University Park listings shows that many of these homes are “sale pending.”